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Surplus
An excess of income or assets over expenditure or liabilities in a given period, often referring to profit or the amount of goods produced over what is needed.
Price Ceiling
A restriction enforced by the government on the highest price allowable for a product or service.
Price Floor
A legally established minimum price below which a good or service cannot be sold, often set to protect producers or farmers from too low prices.
Shortage
A market condition where the demand for a good or service exceeds the supply available at the existing price, resulting in scarcity.
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